Four key things that Indian unicorns, can learn from their global peers
By Juliet Shwe Gaung
Singapore based Grab has launched a beta trial of GrabTaxi service in Yangon.
Southeast Asia witnessed a pick up in private equity (PE) investments in the third quarter of 2016 at $1.72 billion spent across 30 deals, a positive news when compared to a muted first half of year, largely driven by fundraising by two ride hailing applications– GrabTaxi and Go-Jek.
In the first of a multi-part series, Mint profiles the 40 most influential people in India’s start-up ecosystem. While e-commerce influencers still dominate the list, there are a handful of new entrants, most prominently those connected with enterprise software or Software as a Service (SaaS) start-ups that are fast becoming… Read more »
Grab’s unprecedented funding round escalates the battle with Uber Technologies Inc. and underscores how Asian ride-hailing services are arming themselves for a sustained campaign. Grab raised $750 million from investors including Japan’s SoftBank Group Corp., giving it a war chest to fight Uber in promising markets such as Indonesia now… Read more »
Ola and Uber Technologies Inc. have done it all in the past four months as they have tried to assert their dominance in India’s largely fragmented cab market, the last frontier left to conquer in Asia after China, where home-grown business Didi Chuxing, now an Ola investor, rules the roost. Much like their peers in online retail—Amazon.com Inc. and Flipkart Ltd—Uber and Ola have unleashed a price war which has resulted in a windfall for consumers and upped the stakes for investors.
In Vietnam, where motorbikes outnumber cars by a factor of 16, Uber Technologies Inc. is helping to create a new generation of auto drivers with first-time bank loans for vehicle purchases.
The $1 billion investment by Apple Inc. in China’s largest cab-hailing service Didi Chuxing will provide a shot in the arm for Indian unicorn Ola, which counts Didi as a strategic investor, in its market share battle with rival Uber.
Having joined the company in August 2013, Cheryl Goh, Group VP of Marketing at Grab tells DEALSTREETASIA that despite the glamour and changes, working at the firm still feels almost the same for her. “I still go to work with the same amount of passion. When I think about this question, I always ask myself, “Could I ever imagine Grab growing to be this size?” Frankly, the answer at that point, the day that I joined, is that it’s hard to imagine that you would have the opportunities to do all of these, right?”
Grab together with the World Bank premiered in the Philippines the smart data platform called OpenTraffic, which provides free-of-cost GPS information for better analysis of travel speeds and journey times.